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>> i hope we'll some kind to an agreement soon but whatever happen there ises is s going to be deficit cutting and we'll have to face decisions so that could be rough. >> ifill: stacy palmer, jacque simon and hugh johnson of johnson illington advisories, i wanted to get the title right, thank you all very much. >> thank you. >> warner: next to egypt, where a hotly debated new constitution went into effect today. egyptian president mohamed morsi addressed a deeply divided nation this evening, calling for his countrymen to unite behind the new constitution. >> ( translated ): to all egyptian people, you kind people, men and women, we stand today to celebrate our new constitution. it's a historic day. egypt and egyptians now have a free constitution-- it's not a grant from a king, imposed by a president or imposed by an occupier. it's a constitution selected by the egyptian people at their own free will. >> warner: the document, which morsi signed into law last night, was approved by voters, after months of street turmoil, and accusations that he and his muslim brotherhood rammed the char
>> i hope we'll some kind to an agreement soon but whatever happen there ises is s going to be deficit cutting and we'll have to face decisions so that could be rough. >> ifill: stacy palmer, jacque simon and hugh johnson of johnson illington advisories, i wanted to get the title right, thank you all very much. >> thank you. >> warner: next to egypt, where a hotly debated new constitution went into effect today. egyptian president mohamed morsi addressed a deeply divided...
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> reporter: republicans say to be fair the president must focus on entitlement reform to reduce the deficit. >> are you prepared to do that in your first year of your second term. >> what i said i'm prepared to do everything i can to make sure medicare and social security are there not just for this generation but future generations. >> reporter: despite the current gridlock the president says he mains optimistic but asserted democracy is messy. >> one way or another we'll get through this. to i wish that things were more orderly in washington? and rational and people listen to the best arguments and compromise and operate in a more thoughtful and organized fashion? absolutely. but when you look at history that's been the exception rather than the norm. >> now here is your "first look" at this morning's dish of scrambled politics. a new the die found the long lines in central florida on election day discouraged as many as 49,000 people from voting. on "meet the press" nbc's tom brokaw says there's a simple explanation for what's wrong with our elections and the lawmakers sent to washington.
> reporter: republicans say to be fair the president must focus on entitlement reform to reduce the deficit. >> are you prepared to do that in your first year of your second term. >> what i said i'm prepared to do everything i can to make sure medicare and social security are there not just for this generation but future generations. >> reporter: despite the current gridlock the president says he mains optimistic but asserted democracy is messy. >> one way or another...
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makes the deficit worse. the real test will been when they can do their jobs and make the hard choices and confront very dangerous debt levels that we currently have in this country that are part of the reason the economy is not growing. it's those hard choices that will be the real test of bipartisanship and the ability to govern. host: let's share with you yesterday how things unfolded. senator john thune spoke with reporters midday yesterday on capitol hill. [video clip] >> those conversations and discussions continue. we remain hopeful that will get a breakthrough. what happened between the two leaders in the senate had broken down, because the senate democrats failed to come forward with a counteroffer to the proposal republicans made last night. host: a late word from "politico" from republican leader mitch mcconnell. let me read to you a story that he and the vice president engaged in "serious overnight negotiations to avert the fiscal cliff, making major progress to a year-end tax deal, giving seven h
makes the deficit worse. the real test will been when they can do their jobs and make the hard choices and confront very dangerous debt levels that we currently have in this country that are part of the reason the economy is not growing. it's those hard choices that will be the real test of bipartisanship and the ability to govern. host: let's share with you yesterday how things unfolded. senator john thune spoke with reporters midday yesterday on capitol hill. [video clip] >> those...
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you were a member of the bowles mpson deficit commission and voted for the final report. that proposed almost $3 trillion in spending cuts. president obama's last offer the one that the republicans rejected was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all of the spending over the next decade? >> you know, this conversation to me is exactly what is wrong in washington. i mean just listen to the conversation you have is just had. it is he said, she said, blame the other guy. look, i tried to be constructive here and lay out an actual plan to get us nearly $4 trillion by taking the offers that are on the table. speaker boehner and the president were so close and then speaker boehner went off on plan b. i never understood why. had no prospect of succeeding. it did not succeed even in his own caucus. now, the question. >> chris: but you are not answering my question. >> because i tell you something because we only have nine d
you were a member of the bowles mpson deficit commission and voted for the final report. that proposed almost $3 trillion in spending cuts. president obama's last offer the one that the republicans rejected was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all of the spending over the next decade? >> you know, this conversation to me is...
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we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles commission. the most important thing, we have to deal with spending. we live in an america where the federal government now is spending 25% of our gross domestic product. when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoev
we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles...
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Dec 30, 2012
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they said almost every day, at the top of the list is, deficit. get the deficit under control. until we actually did it in the 1990's. and why did i have this single- minded focus? i have always understood, the most important responsibility of government is economic security of the people. if you do not have your fiscal affairs in order -- we learned in the economic downturns in my state, the debt to work for you. it can also question. -- the debt can work for you. it can also crush you. i do not want to see the country go through the same kinds of problems. my family lived through the great depression in the 1930's. it exacted a terrible toll on the people in my state. i have always been very focused on economic growth, economic opportunity, and being responsible with the resources that you have. >> we a frequently heard from the republican candidate but this country could become like greece. do you see that as a possibility? >> no. it is a profoundly different situation. i do see the possibility that we could have debt that would truly be harmful. the congressional budget off
they said almost every day, at the top of the list is, deficit. get the deficit under control. until we actually did it in the 1990's. and why did i have this single- minded focus? i have always understood, the most important responsibility of government is economic security of the people. if you do not have your fiscal affairs in order -- we learned in the economic downturns in my state, the debt to work for you. it can also question. -- the debt can work for you. it can also crush you. i do...
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goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax increases might affect you? had you planned for that at all? caller: i am comfortable enough, i am planned -- and i plan to give more. i would hope that most people in my financial situation would be prepared to do that. >> the democratic line is next, california. donna, hello. caller: i would like to state -- i think that one of our biggest problems is that the republican party has sold us out to grovers inquest. i think that everyone who took that pledge should be fired from the congress. they took an oath of office first. they have g
goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax...
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and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it can. both president obama and speaker boehner have already begun to do a principle compromise. speaker boehner said i'm ready to raise taxes on those over a million dollars. president obama said i'm ready to have a new type of chain to consumer price index which -- impacts entitlement reform. the bipartisan national debt commission, simpson-bowles commission, said for every dollar of spending reduction, including the entitlement reform we immediate to have $1 in tax revenue. that's the principle compromise we have to have. so they are not far off. what we have to have is very simple. $4 trillion in debt reduc
and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it...
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but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says you got to start somewhere, especially when washington won't. the partisan fighting has bothered him since? 1992, when he first wrote his congressman, suggesting a formula to put down the debt. the veteran says he is giving back to a country that has given him so much. a sense of duty, that is infectious. his daughter is now collecting cans at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff. but they say that is not the message garcia is sending to congress. >> in order to really solve the $16 trillion national debt you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end. and it might as well be here. kyung lah, cnn, san antonio, texas. >>> back in a moment. it's lots of things. all waking up. connecting to the
but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says you got to start somewhere, especially when washington won't. the partisan fighting has bothered him since? 1992, when he first wrote his congressman, suggesting a formula to put down the debt. the veteran says he is giving back to a country that has given him so much. a sense of duty, that is...
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been n
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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that unemployment is still available for 2 million people on that lays the groundwork for additional deficit reduction on economic growth steps that we can take in the new year but let's not miss this deadline. >> as for the two senate leaders, they spoke shortly after the meeting on sounded a bit more hopeful than the president. >> i think it was a very positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it's a very serious meeting on it took an extended period of time, as you all know waiting for us. >> mr. president, i would just add -- i share the view of the majority leader, we had a good meeting down at the white house. we are engaged in discussion, the majority leader on myself on the white house >> -- so i'm hopeful. >> the american people are watching what we do here. obviously their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason you can't get stuff done in an organized timetable. why everything always has to wait till the last minute. well, we're now at the last
that unemployment is still available for 2 million people on that lays the groundwork for additional deficit reduction on economic growth steps that we can take in the new year but let's not miss this deadline. >> as for the two senate leaders, they spoke shortly after the meeting on sounded a bit more hopeful than the president. >> i think it was a very positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it's a very serious meeting...
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unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion dollar drop in the nation gross domestic product. that's the value of all the goods and services produced. for california it means defense spending would be cut by half billion dollars. 12,000 children from low income family would look the access to head start programs, 2,000 fewer women not given screening for breast cervical cancer. domestic violence people would lose services. 8,000 tour california tested for hive and 2 96,000 students would see their title 1 benefit cut. employment assistance to 143 143,000 job seekers also cut. and uc health system could face 21 million in cuts from the loss of medicare reve
unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion...
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps we can take in the new year. but let's not miss this deadline. >> as for the two senate leaders, they spoke shortly after the meeting and they sounded more hopeful than the president. >> i think it was a positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it's a very serious meeting and we took an extended period of time, as you all know, waiting for us. >> i would just add, i share the view of the majority leader. we had a good meeting at the white house. we're engaged in discussions. the majority leader and myself and the white house. in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> sounds good, but also sounds familiar. right? senator reid said a vote could ha
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps we can take in the new year. but let's not miss this deadline. >> as for the two senate leaders, they spoke shortly after the meeting and they sounded more hopeful than the president. >> i think it was a positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it's a very serious meeting and we...
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insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >> reporter: that is true, staff from harry reed and mitch mcconnell have been negotiating through the daout the day and in picked up. we have heard that both sides are not budgeting. but we don't know, things can change at any moment. if we have to gauge how to talks have gone so far from the conversations we have had here around capitol hill, they have not been too good at the moment. all that being said though, craig, there's a lot that can happen over the next 48 hours. the deal obviously is to try to have something on the floor that can pass the house of representatives by new year's eve. that is why it's so di
insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >>...
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we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> my legs. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. >>> and police in new york city are searching for a woman who pushed a man to his death in front of an oncoming subway train. police are checking homeless shelters and psychiatric units for the woman seen in this surveillance video running away from the scene of that crime. authorities released a sketch of that suspect. investigators
we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a...
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extends unemployment americans look for a job and lays the ground work for more economic growth andç deficit reduction. i believe suchmy a proposal coud pass both house was bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising taxes for the wealthiest americans to avoid the fiscal cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next few days. the highway patrol and other law enforcement agencies have their checkpoints in place. they will continue to be every night through new year's day. >>> a bay area law maker is proposing a new solution for getting repeat drunk drivers off the roadways. it's already being as utilized in other states. abc7 news reporter david louie has the details of the new proposal. >> the thinking behind the proposed crackdown of repeat offenders is to address what state senator jerry hill says is a high rate of drunk drivers who don't modify their behavior. he cites 2009 statistics, the most recent numbers available. >> ther
extends unemployment americans look for a job and lays the ground work for more economic growth andç deficit reduction. i believe suchmy a proposal coud pass both house was bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising taxes for the wealthiest americans to avoid the fiscal cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next...
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we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we weren't that far from a deal two weeks ago. but we are today. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. and we can't find a way to reason together. >> john, we appreciate the clarity, even if it's depressing. thank you very much. john avlon. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. good morning, sir. >> hi, dan, bianna. mr. avalon, good morning, everyone. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> are you all right? >> yeah, i got my legs. i'm good. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. and sank its teeth into his legs. other surfers came to the man's aid until paramedics arrived. >>> and police in ne
we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we weren't that far from a deal two weeks ago. but we are today. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. and we can't find a way to reason together. >> john, we appreciate the clarity, even if it's depressing. thank you very much. john avlon. >>> a lot of other news developing overnight. for...
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a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake superior state university and how this list compiling all began. >> it was a bet new year's eve, 1976. >> long ago. >> yep. and they discussed how many words and phrases are overused too often. and the originator of this list back in 1976 went back and drew up a list of five words to submit to upi, united press international. and the whole thing took off from there, and we take nominations from all over the world. whatever floats to the top gets to our list. >> and is i was going to ask how that happened. people can, what, make suggestions, somehow contact your university and say here's a word i want banished. >> lssubanished. do a search and it will get you right to our page. and there is still time to vote, by the way. the list comes out on monday at 12:01. if we get anymore packed ballot boxes, we'll include those. >> do that right now. a few of the words banished for 2012,
a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake superior state university and how this list compiling all began. >> it was a bet new year's eve, 1976. >> long ago. >> yep. and they discussed how many words and phrases are overused too often. and the originator of this list back in 1976 went back and drew up a list of five words to submit to upi,...
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and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually counteract some of those tax increases. could we be seeing the exact same thing today? >> well, yes. for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather th
and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come...
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a plan that would simplify the tax code, shrink the deficit, protect the taxpayers, and grow the economy. but democrats consistently rejected those offers. the president chose, instead, to spend his time on the campaign trail. this was even after he got re-elected. and congressional democrats sat on their hands. now, republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. but we had no takers. the phone never rang and so now here we are five days from the new year and we might finally start talking. democrats have had an entire year to put forward a balanced bipartisan proposal. and if they had something to fit the bill, i'm sure the majority leader would have been able to deliver the votes the president would have needed to pass it here in the senate. and weapon wouldn't be in this
a plan that would simplify the tax code, shrink the deficit, protect the taxpayers, and grow the economy. but democrats consistently rejected those offers. the president chose, instead, to spend his time on the campaign trail. this was even after he got re-elected. and congressional democrats sat on their hands. now, republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. but we had no takers. the phone never rang and so now here we are five...
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if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine months we could see substantial progress towards smart fiscal policy in the country if the two parties come together. heather: we'll see what happens. thank you both very much for joining us until monday night. thank you. >> merry christmas. happy new year. [heavy breathing]. gregg: boy, remember that, video from april of 2011. monster tornado tearing through tuscaloosa, alabama, devastating the community and alberta baptist church. ever since then the church's pastor has been fighting insurers and fema and the city to try to rebuild. this month, finally some mo
if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine...
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Dec 26, 2012
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the president in addressing a deficit added $1.6 trillion in new spending. gregg: yeah. >> so who are we joking right now? the president has never taken the spending side of this equation seriously, which is why we don't have a deal. republicans have put their necks on the line supporting new revenues, the president's not coming through. gregg: senator barrasso said the president does want to go over the cliff, because he wants to punish republicans. is there something to that? >> i don't think there's anything to that, but the reality is that if he wants to get anything done, he has two options. he either breaks the republicans on taxes, or he breaks the republicans. i read that somewhere, and i thought it was a fantastic quote. but i do think that he is going -- i don't think any of us want to see the country go off the cliff. gregg: maybe he just didn't think $16 trillion in debt is a big deal, basil? >> i think he thinks it's a big deal if we go off this cliff. we're talking about two million folks that will not get unemployment anymore, i don't think an
the president in addressing a deficit added $1.6 trillion in new spending. gregg: yeah. >> so who are we joking right now? the president has never taken the spending side of this equation seriously, which is why we don't have a deal. republicans have put their necks on the line supporting new revenues, the president's not coming through. gregg: senator barrasso said the president does want to go over the cliff, because he wants to punish republicans. is there something to that? >> i...
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Dec 27, 2012
12/12
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i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to get this settled before we do go off the fiscal cliff because i think a lot of people are really stressed out. >>> think that message "come together" is exactly what needs to happen. i'm frustrated by six, 10 people who think they can hold out to get their last little pork or thing into the bill, that seems unfortunate. >> of course, in the age of social media, in particular, no message of any kind goes untweeted. we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes.
i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to...
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Dec 30, 2012
12/12
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and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and a plane taken off in sheing slid off the runway, and stuck in a snow bank, 6 6 on board. no one was hurt. >> juliet: for more on the conditions as mr. clayton morris said, maria molina. i was saddened not to see a white new years, pre-new years. >> we didn't see it accumulate in new york, in manhattan. outside, hoboken saw snow on the cars, but not on the ground or the streets, but place ins connecticut and massachusetts actually saw close to a foot of snow. i even sawmill ford, massachusetts over a foot of snow and some people did get lucky and needed snow across portions of we haven't is that much snow so far this wi
and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and...
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Dec 29, 2012
12/12
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i don't think from this point that we'll get meaningful deficit reduction. certainly not meaningful tax reform. i do think that there will be perhaps a permanent extension of the lower tax rates for those making at least under $500,000. the payroll tax cut on the other hand will go away, i think. it's highly likely. that is going to impact a lot of workers. >> bair also took on the credit sthamp increasing the -- criticism that increasing the tax on capital gains. >> this is an aberration in the tax code. it is grossly unfair. you look at if they raise, say they raise tax rates, the top tax rate to 39.6% for those making more than $500,000, that's going to mean that small businesses, a lot of small businesses are going to be paying that nearly 40% marginal tax rate where you have billionaire private equity funds, you know, paying 15, 20, or 2 4 depending where they put it. it's not an issue of penalizing investment income. it's an issue of penalizing labor and those who make the income through wages. and they're both legitimate and both should be taxed at th
i don't think from this point that we'll get meaningful deficit reduction. certainly not meaningful tax reform. i do think that there will be perhaps a permanent extension of the lower tax rates for those making at least under $500,000. the payroll tax cut on the other hand will go away, i think. it's highly likely. that is going to impact a lot of workers. >> bair also took on the credit sthamp increasing the -- criticism that increasing the tax on capital gains. >> this is an...
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Dec 29, 2012
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the bad news is i don't think it many will have meaningful deficit reduction. i think this is just going to keep dragging on and on. >> in your book, you advocate for raising the capital gains tax, which could make wall street owe a lot more money than it does now. >> yes. right. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making more than $500,000. that means a lot of small businesses will are paying that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20, even 24, depending where they put it. it's not an issue of penalizing investment income. it's an issue of penalizing labor, and those who make
the bad news is i don't think it many will have meaningful deficit reduction. i think this is just going to keep dragging on and on. >> in your book, you advocate for raising the capital gains tax, which could make wall street owe a lot more money than it does now. >> yes. right. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i...
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Dec 28, 2012
12/12
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republicans demand the government reduce its deficit as a condition for raising the debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to a trillion dollars in spending cuts up front and another $1.2 trillion in cuts to be decided by a special super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect january 2013 at the exact moment when the bush tax cuts extended for two years would expire. so the point is we could have all seen this coming. some of us did. we yelled at the top of our lungs but we were drown out by the election. common sense often gets drown out by seemingly endless and continuous elections in america. this time there may be a serious price to pay for it. >> ali joins me now. i want to pick up on that point. you said people were screaming at t
republicans demand the government reduce its deficit as a condition for raising the debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to a trillion dollars in spending cuts up front and another $1.2 trillion in cuts to be decided by a special super committee. but a poison pill was...
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Dec 27, 2012
12/12
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the market will turn to a deficit on 2013 in the increasing demand in the auto industry where palladium is used in systems for cars. combined with the global system supply. a rally that began in earnest at the end of 2012 will go into overdrive in the new year. . >> joining us now is dan dickert. you just said palladium. that's a big pick for you? >> i was surprised that sharon spoke about palladium. it was my sleeper bet for 2013. >> what's going on with palladium? >> it's a real industrial metal. it's in short supply. it's undertraded, underowned and one of those industrial metals. it's one of those sleeper metal plays that you can make. used in vehicles? >> in the cat converters. that's the main use for them. there's a real shortage that's been going on in palladium. >> look into the crystal ball. give us an oil price if you came back here a year from today. >> this is the toughest one ever. this is the third year i've conpredictions for you twice. it's not so bad. >> you said it would fluctuate? >> there was one guy who said it would rachet between $130 and $160. i said you have to
the market will turn to a deficit on 2013 in the increasing demand in the auto industry where palladium is used in systems for cars. combined with the global system supply. a rally that began in earnest at the end of 2012 will go into overdrive in the new year. . >> joining us now is dan dickert. you just said palladium. that's a big pick for you? >> i was surprised that sharon spoke about palladium. it was my sleeper bet for 2013. >> what's going on with palladium? >>...
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Dec 28, 2012
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there are basically three pieces to solving the deficit, right? one is spending and we have agrowed to $1.6 trillion in spending cuts in the last two years and the other is spending cuts. we put forth spending cuts of over $700 billion. not cutting care to seniors, but cutting overpayments to insurance companies. the burden of the deficit must not just be on the middle class. the wealthy have to kick in. we sent a bill to the house in july that says 98% americans, income up to 240,000 would continue to get tax cuts. above that, people would may more. they made excuses, the bill wasn't right. we have the bill in the house, the bill in the senate. the bottom line is when the speaker put on the floor last week the bill that would say, okay, how about everybody up to $1 million gets a tax cut. couldn't even pass that. we're stuck. we're really stuck. >> the house gop said they put a bill forward in august. so everyone sort of covering themselves saying we got a bill. we didn't ask to go over the fiscal cliff. i'm kind of glad at 3:00 this afternoon, b
there are basically three pieces to solving the deficit, right? one is spending and we have agrowed to $1.6 trillion in spending cuts in the last two years and the other is spending cuts. we put forth spending cuts of over $700 billion. not cutting care to seniors, but cutting overpayments to insurance companies. the burden of the deficit must not just be on the middle class. the wealthy have to kick in. we sent a bill to the house in july that says 98% americans, income up to 240,000 would...
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Dec 24, 2012
12/12
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i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs have been skyrocketing. our country's health care cost is rising faster than any other industrial nation. we don't have much coronation. obamacare had to be cobbled together to appease everybody. we have it and we should be focusing on ways to make our health care more efficient and i think we will. these are all tough problems but they need to be handled. being president is like playing three-dimensional chess. maybe four dimensions. caller: thank you, c-span. is the last year, didn't the president give over $1 trillion in cuts? the caller blamed him for
i'm not a deficit hawk. people on both sides do bothwell. i don't understand the fuss about raising the age qualification for social security are medicare. and plead with the caps -- simply lift the caps. franklin roosevelt to not want to be called a socialist. if we just lived in those caps, we would delay -- i can remember the exact numbers. for several decades, anyway. i think that would be less painful than raising the qualified age. medicare is the toughest because of health care costs...
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Dec 27, 2012
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these are people providing us also with the means that float the deficit. these are people that are providing finances and this goes on long enough, they begin to think that. >> who? >> the foreign governments as well as markets. people sitting on enormous treasuries. the question then is they go hold it. if these guys are not serious, why am i depending on them so much? the scary scenario is people say before i continue to float the united states, i want to get a higher return in order to give in to this risk and uncertainty. that is the day the spiral begins because mr. bernanke and col colleagues have to think about raising rates and whether to attract the financing. what is scary about this cliff and the debt ceiling over the next two months to the end of february is for the rest of the world looking at us, we have about two months if not to solve everything, but to get enough ducks lined up that we continue to be at least border line serious. >> talking about border line serious, tim geithner's letter indicating we won't be able to pay our bills, are t
these are people providing us also with the means that float the deficit. these are people that are providing finances and this goes on long enough, they begin to think that. >> who? >> the foreign governments as well as markets. people sitting on enormous treasuries. the question then is they go hold it. if these guys are not serious, why am i depending on them so much? the scary scenario is people say before i continue to float the united states, i want to get a higher return in...
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Dec 28, 2012
12/12
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. >> more continues on the project at 25,000 white elie the lights to the deficit is caused by the bay bridge is part of the lights go to our artists villareal . >> project organizers said $8 million, privately funded project is the largest of its kind. >> about four times larger than the eiffel tower in paris. >> the project is expected to be finished on march 5th be a place for two years. >> it will be only visible from the north side of the bridge will not be visible to those driving on the bridge. >> did to it were shot and killed--one person shot and killed and one person stab to death. >> a meeting coming up with the white house as america tries to avert the fiscal cliff. plus a free ride on many. we will tell you why coming up after the break at the kron 4 morning news conreturns in two minutes. >> ,h >> overnight, three people were killed and oakland. all of them at different locations. i will have the details coming up. >> the clock is ticking for a solution in washington. we are just four days away from falling off the fiscal cliff. >> we're all so interested in the all impor
. >> more continues on the project at 25,000 white elie the lights to the deficit is caused by the bay bridge is part of the lights go to our artists villareal . >> project organizers said $8 million, privately funded project is the largest of its kind. >> about four times larger than the eiffel tower in paris. >> the project is expected to be finished on march 5th be a place for two years. >> it will be only visible from the north side of the bridge will not be...
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Dec 27, 2012
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more stimulus, $50 billion in additional government spending, which would only add to the debt and deficit. what impact does that have? >> i think that have essentially no impact. the u.s. has been growing since june of 2009. this is not a case where the government needs to step in and stop a free fall. the problem is we're growing too slowly. we are growing at rates that are 1, 1.5, 2%, and we should be growing at rates of 3 and 4%. to do that we need permanent fixes. fixes to entitlement programs, tax reform, that's the recipe for more rapid growth. it's also the same recipe for fixing the debt. gregg: how about 7 and 8% growth which is what happened this ronald reagan reduced the tabgts rates. the tax rates. >> that would be phenomenal. we haven't seen that since the 1980s. it will take a very big pla change in the playbook in washington for that to happen h. gregg: thank you very much. >> thank you. gregg: what will it cost you if washington can't make a deal before next week, something that is looking more and more likely? you can find out all you need to know on our website foxnews.c
more stimulus, $50 billion in additional government spending, which would only add to the debt and deficit. what impact does that have? >> i think that have essentially no impact. the u.s. has been growing since june of 2009. this is not a case where the government needs to step in and stop a free fall. the problem is we're growing too slowly. we are growing at rates that are 1, 1.5, 2%, and we should be growing at rates of 3 and 4%. to do that we need permanent fixes. fixes to...
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Dec 28, 2012
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illinois, there are $100 billion in the hole in terms of the deficit. nationally, you got all these people in the earlier segment playing blame game in washington. guess what? when you're spending more money than you pull in, eventually the money runs out. then you can blame all you want. but there is no money. for basic services, like police, like good education, all that stuff. they don't care about that. they spend the money on what they want to get elected. >> when you're saying that the previous mayor spent all the money, you're talking about mayor daly. rahm emanuel is in place now. >> right. >> he spent all the money on what? and then, two, what is the realistic proposal here to reverse the violence? >> well, over 20 years i can give you a laundry list of corruption and cronyism. but you know it well because you were here as well. and you saw it. there was a reporter once for "time" doing a cnn profile, comparing richard daly to andy of maybury and said he presides over chicago like andy of maybury. now that reporter is the press secretary for pr
illinois, there are $100 billion in the hole in terms of the deficit. nationally, you got all these people in the earlier segment playing blame game in washington. guess what? when you're spending more money than you pull in, eventually the money runs out. then you can blame all you want. but there is no money. for basic services, like police, like good education, all that stuff. they don't care about that. they spend the money on what they want to get elected. >> when you're saying that...
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Dec 30, 2012
12/12
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WBAL
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last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal and put certainty into the economy. >> americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tire of them fighting. >> it's the equivalent of worrying about your mortgage after you're homeless. >> it's sad. >> we do want to remind you that president obama will be david gregory's exclusive guest on "meet the press" this morning. you can catch his interview on wbal-tv 11 at 10:00 a.m. former president george h.w. bush is out of intensive care and improving. a family spokesperson says the bushes thank everyone for prayers and good wishes. mr. bush is the oldest living president. he's been in the hospital for a bronchitis related cough. a lawyer for a survivor of the newtown massacre says the state of connecticut didn't do enough to keep a child safe and wants to sue for $100 million. he says after hearing gunfire and screaming, the
last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal and put certainty into the economy. >> americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tire of them fighting. >> it's the equivalent of worrying about your mortgage after you're homeless....
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Dec 27, 2012
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but $90 million isn't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff, but his priest says that's not the message garcia's sending to congress. >> in order to really solve the $16 trillion national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end, and it might as well be here. so if you want to be, like his granddaughter says, be lik
but $90 million isn't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back...